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SAVVY INDIVIDUAL INVESTORS FLASH YELLOW ON STOCK MARKET AND ECONOMY; THE QUICK & REILLY 500 SURVEY SAYS EXPERIENCED INVESTORS ARE CAUTIOUS

 SAVVY INDIVIDUAL INVESTORS FLASH YELLOW ON STOCK MARKET AND ECONOMY;
 THE QUICK & REILLY 500 SURVEY SAYS EXPERIENCED INVESTORS ARE CAUTIOUS
 NEW YORK, June 16 /PRNewswire/ -- In spite of Administration claims that economic recovery is on the way, 61 percent of the nation's most sophisticated individual investors are now extremely cautious.
 This sentiment is also in sharp contrast to often-quoted economic indicators, including a May rise in the Consumer Confidence Index of 6.4 points, and an April increase of 0.4 percent in the Index of Leading Indicators.
 This key finding is one of many revealed by a new national survey of investor confidence just completed by Wirthlin Group researchers on behalf of Quick & Reilly Inc., the national retail securities brokerage firm. The Wirthlin Group, a leading national public opinion research firm, solicited responses from more than 500 of the firm's most active clients (more than eight in 10 of those polled have purchased or sold stocks, bonds or mutual funds in the past three months) to determine how the economy is affecting their investment activity and attitudes. The survey, called The Quick & Reilly 500, will be conducted quarterly as a means to track individual investor trends on an ongoing basis.
 The results of the first survey are sobering. Most dramatic is the finding that 61 percent of those surveyed agree that "there is too much economic uncertainty to be buying actively right now". General uneasiness about the economy abounds, with 48 percent of respondents indicating that the economic environment of the past few months has made them more cautious about investing. This concern is also reflected in their views on the stock market. While the stock market has hit all time highs in recent months, a total of 56 percent of respondents expect the stock market to stay the same or fall during the next three months, and 45 percent foresee no change or an actual decline in the next year. When asked to elaborate on their views about the current investing climate, 30 percent of those surveyed say they believe the stock market has peaked. This sentiment was expressed by those who described themselves as either "bears" or "bulls", as well as who were neutral.
 How will the upcoming Presidential election affect the economy? Although in 10 of the 14 presidential election years since 1936 the Dow has risen an average of 6.92 percent, 61 percent of individual investors surveyed believe the election will either have no effect on the market or will push it down.
 Thomas C. Quick, president of Quick & Reilly, Inc., said, "Traditional measures cannot accurately reflect market sentiment since they do not take into account the views of individual investors. We believe it is essential to understand their views as well as those of institutions. With The Quick & Reilly 500, we are able to hear these voices clearly for the first time."
 Quick continued, "Our clients are sophisticated and diverse, and because they make their own investment decisions, their views are an excellent barometer of sentiment about the future strength and viability of our investment markets."
 Other major findings of The Quick & Reilly 500 include:
 Investor Sentiment
 -- 74 percent of active investors polled expect interest rates to either remain the same or decline during the next six months.
 -- 47 percent indicate that investing in individual stocks would provide the best return over the next three months compared to a bank savings account (favored by only 3 percent), a money market mutual fund (8 percent), a stock or bond mutual fund (28 percent) or individual bonds (11 percent).
 -- On a scale of 0 ("bear") to 100 ("bull"), the mean investor rating is 53.7 (just above neutral).
 -- 24 percent identify themselves as "bears"; 41 percent as "bulls"; and 34 percent rate themselves absolutely neutral.
 Regional Differences
 -- Northeasterners are more likely to rate themselves as "bears" (34 percent) than those in the South (24 percent), West (19 percent) or Midwest (15 percent).
 -- Midwesterners are more optimistic about the stock market short- term. Fifty-one percent believe the stock market will rise in the next three months, in contrast to 39 percent of those in the Northeast.
 -- Northeasterners (75 percent) and Westerners (75 percent) are more likely to have bought or sold individual stocks in the past three months than are either Midwesterners (60 percent) or Southerners (63 percent).
 The Quick & Reilly 500 is compiled from results of a survey conducted among investor clients of Quick & Reilly, Inc. The Wirthlin Group interviewed 544 individuals nationwide by telephone between May 27 and June 1. Sample error for a group of this size is + five percent, at the 95 percent confidence level.
 Quick & Reilly, Inc., was the first New York Stock Exchange member firm to offer discounted commissions to the nation's most sophisticated individual investors. Headquartered in New York, Quick & Reilly services its clients through 75 offices in every major city across the country.
 Quick & Reilly, Inc. is a division of the Quick & Reilly Group, Inc. (NYSE: BQR), which is also the holding company for U.S. Clearing Corp., providing clearance services for more than 140 brokerage firms in addition to 75 Quick & Reilly offices; and JJC Specialist Corp. which makes markets in the stocks of 99 NYSE listed companies.
 -0- 6/16/92
 /CONTACT: Thomas C. Quick, president of Quick & Reilly, 212-747-4840, or Bill Reddig or Alison Wertheim of Hill and Knowlton, 212-697-5600, for Quick & Reilly/
 (BQR) CO: Quick & Reilly ST: New York IN: FIN SU: ECO


TS -- NY012 -- 0515 06/16/92 09:17 EDT
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Date:Jun 16, 1992
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